South Carolina General Assembly
109th Session, 1991-1992

Bill 4480


                    Current Status

Introducing Body:               House
Bill Number:                    4480
Ratification Number:            413
Act Number:                     523
Primary Sponsor:                Carnell
Type of Legislation:            GB
Subject:                        Capital improvement bond
                                authorizations reduced
Companion Bill Number:          1343
Date Bill Passed both Bodies:   Apr 23, 1992
Computer Document Number:       436/12154.DW
Governor's Action:              S
Date of Governor's Action:      May 04, 1992
Introduced Date:                Feb 27, 1992
Date of Last Amendment:         Apr 29, 1992
Last History Body:              ------
Last History Date:              Oct 07, 1992
Last History Type:              Act No. 523
Scope of Legislation:           Statewide
All Sponsors:                   Carnell
                                McAbee
                                Boan
                                J.W. Johnson
                                Foster
Type of Legislation:            General Bill

History


 Bill  Body    Date          Action Description              CMN
 ----  ------  ------------  ------------------------------  ---
 4480  ------  Oct 07, 1992  Act No. 523
 4480  ------  May 04, 1992  Signed by Governor
 4480  ------  Apr 30, 1992  Ratified R 413
 4480  House   Apr 29, 1992  Free Conference Committee       99
                             Report received, adopted
 4480  Senate  Apr 29, 1992  Free Conference Committee       99
                             Report received, adopted
 4480  House   Apr 29, 1992  Free Conference Powers          99
                             granted, appointed Reps. to
                             Committee of Free Conference
 4480  Senate  Apr 29, 1992  Free Conference Powers          99
                             granted, appointed Senators
                             to Committee of Free
                             Conference
 4480  Senate  Apr 28, 1992  Conference powers granted,      98
                             appointed Senators to
                             Committee of Conference
 4480  House   Apr 28, 1992  Conference powers granted,      98
                             appointed Reps. to Committee
                             of Conference
 4480  House   Apr 28, 1992  Insists upon amendment
 4480  Senate  Apr 28, 1992  Non-concurrence in House
                             amendment
 4480  Senate  Apr 28, 1992  Reconsidered vote whereby
                             concurred in House amendments
 4480  Senate  Apr 28, 1992  Recalled from Legislative
                             Council
 4480  Senate  Apr 23, 1992  Concurred in House amendment,
                             enrolled for ratification
 4480  House   Apr 22, 1992  Senate amendments amended,
                             returned to Senate
 4480  Senate  Apr 16, 1992  Amended, read third time,
                             returned to House with
                             amendments
 4480  Senate  Mar 30, 1992  Read second time
 4480  Senate  Mar 26, 1992  Introduced, read first time,
                             placed on Calendar without
                             reference
 4480  House   Mar 25, 1992  Read third time, sent to
                             Senate
 4480  House   Mar 24, 1992  Read second time
 4480  House   Mar 17, 1992  Committee Report: Favorable     30
 4480  House   Feb 27, 1992  Introduced, read first time,    30
                             referred to Committee

View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

(R413, H4480)

AN ACT TO AMEND ACT 1377 OF 1968, AS AMENDED, RELATING TO THE ISSUANCE OF CAPITAL IMPROVEMENT BONDS, SO AS TO REALLOCATE AND REDUCE EXISTING BOND AUTHORIZATIONS, AUTHORIZE THE ISSUANCE OF ADDITIONAL BONDS, AUTHORIZE THE STATE TREASURER TO TRANSFER AN AMOUNT NECESSARY FROM THE FUNDS OF THE VARIOUS STATE RETIREMENT SYSTEMS FOR USE TO PURCHASE OR BUILD SUITABLE OFFICE SPACE FOR THE RETIREMENT DIVISION OF THE STATE BUDGET AND CONTROL BOARD, TO PROVIDE THAT THE PURCHASE MUST CONFORM TO APPLICABLE LAWS, REGULATIONS, AND POLICIES GOVERNING ACQUISITION, TO PROVIDE THAT IT IS THE INTENT OF THE GENERAL ASSEMBLY THAT STATE CAPITAL IMPROVEMENT BONDS MAY NOT BE AUTHORIZED IN 1993, AND INCREASE THE AGGREGATE PRINCIPAL INDEBTEDNESS TO REFLECT THE ADDITIONAL CAPITAL IMPROVEMENT BONDS AUTHORIZED PURSUANT TO THE PROVISIONS OF THIS ACT.

Be it enacted by the General Assembly of the State of South Carolina:

Bond authorization reallocated

SECTION 1. Subitem 13 of Section 3 of Act 1377 of 1968, as added by Section 1 of Act 518 of 1980, is amended to read:

"13. Educational Television

Commission:

1. Greenville-Replacement

of Transmitter

Equipment and

Transmitter Building

on Paris Mountain. . . . . . .$1,171,900

2. Equipment-Spartanburg

Station. . . . . . . . . . . . . 485,000

3. Equipment-Columbia

Facility . . . . . . . . . . . . 970,000

Total, Education

Television Commission. .$ 2,626,900".

Bond authorization reallocated

SECTION 2. Subitem 5 of item 12 of Section 3 of Act 1377 of 1968, as added by Section 1 of Act 538 of 1986, is amended to read:

"5. Sumter Area Technical

College

(a) Building 400 Roof

replacement . . . . . . . 100,000

(b) Building 400 Renovations210,000".

Bond authorization reduced

SECTION 3. Sub-subitem (j), subitem 24(A) (Department of Youth Services), item (f), Section 3 of Act 1377 of 1968, as last amended by Section 6 of an act of 1991 bearing ratification number 256, is further amended to read:

"(j) Facility Roofing269,284".

Bonds authorized

SECTION 4. Item (f) of Section 3 of Act 1377 of 1968, as last amended by an act of 1991 bearing ratification number 256, is further amended by adding:

"Ports Authority

Economic Development Project25,000,000

__________

Total, Ports Authority 25,000,000

If the Joint Bond Review Committee and the Budget and Control Board determine that the Ports Authority Economic Development Project cannot be implemented, the authorization in this subitem is void."

Bonds authorization reallocated

SECTION 5. Subitem 34 (Horry County), item (f), Section 3 of Act 1377 of 1968, as last amended by Section 8 of an act of 1991 bearing ratification number 256, is further amended to read:

"34. City of Myrtle Beach

Convention Center 5,000,000

Total, City of Myrtle Beach 5,000,000

The funds authorized in this subitem for the City of Myrtle Beach Convention Center must be matched on a three-to-one value basis as provided by the governing body of the City of Myrtle Beach or the governing body of Horry County, donations in-kind, and any other source of funds which may be obligated for the convention center, including funds of any nonprofit corporation pursuant to any certificate of participation financing of the convention center."

Funds may be transferred to purchase offices for Retirement System

SECTION 6. (A)(1) The offices of the Retirement Division of the State Budget and Control Board have relocated three times in the downtown area of Columbia during the past fifteen years, bringing about administrative hardship and creating confusion on the part of the two hundred thousand members and retirees of the various state retirement systems.

(2) The Retirement Division is currently unable to provide adequate parking for its thousands of visitors.

(3) Many state retirement systems, after careful study, have determined it to be prudent to own administrative space acquired through the use of system funds.

(4) Leasing proposals indicate ownership is a wise option for our system to pursue.

(B) The General Assembly finds that the Retirement Division of the State Budget and Control Board needs adequate and suitable office space to fulfill its ordinary and necessary functions and that ownership of adequate and suitable office space will lend stability to the division's relationship with the members and retirees of the various state retirement systems, provide adequate parking for visitors, and, when compared to leasing, preserve the funds of the various systems.

(C) The State Treasurer may transfer an amount necessary from the funds of the various state retirement systems for use in purchasing or building adequate and suitable offices primarily for the use of the Retirement Division of the State Budget and Control Board. The purchase or construction must conform to applicable laws, regulations, and policies governing acquisitions.

Legislative intent not to authorize bonds in 1993

SECTION 7. Notwithstanding the provisions of Section 2-7-105 of the 1976 Code, it is the intent of the General Assembly that state capital improvement bonds may not be authorized in 1993.

Aggregate principal indebtedness increased

SECTION 8. Section 4 of Act 1377 of 1968, as last amended by an act of 1991 bearing ratification number 256, is further amended to read:

"Section 4. The aggregate principal indebtedness on account of bonds issued pursuant to this act may not exceed $1,790,539,125.10. The limitation imposed by the provisions of this section does not apply to bonds issued on behalf of the Mental Health Commission as provided in Acts 1276 and 1272 of 1970, or to bonds issued on behalf of the Commission on Mental Retardation as provided in Act 1087 of 1970 or to bonds issued on behalf of the South Carolina Fire Academy. The limitation imposed by the provisions of this section is not considered to be an obligation of the contract made between the State and holders of bonds issued pursuant to this act, and the limitation imposed by the provisions of this section may be enlarged by acts amending it or reduced by the application of the Capital Reserve Fund or by amendments of this act. Within these limitations state capital improvement bonds may be issued under the conditions prescribed by this act."

Time effective

SECTION 9. This act takes effect upon approval by the Governor.

In the Senate House April 30, 1992.

Nick A. Theodore,

President of the Senate

Robert J. Sheheen,

Speaker of the House of

Representatives

Approved the 4th day of May, 1992.

Carroll A. Campbell, Jr.,

Governor

Printer's Date -- June 1, 1992 -- S.

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